We are in the midst of a construction boom, which is, in turn, creating a high demand for a large, robust workforce. This rapid and exponential growth is particularly taking a toll on senior-level management. Preemptive planning is needed to ensure success during a market boom. Many companies need to find the right senior-level management help to harness these new demands throughout the oil and gas industry.
What are the best executive search solutions? Demand for construction is spanning across multiple sectors, and everyone is looking for the right talent. The entire industry is fighting to find the right talent due to this immediate demand. There are 3 proven reasons why the best use of your resources should go towards finding a reputable executive search firm. Alongside an aging-workforce, an industry bottleneck, and a shortage of senior-level management, there is no time to waste.
The recession caused many shifts in the oil and gas industry’s workforce. Downsizing left workers without jobs and no means for a younger workforce to be shepherded into the sector once our economy regained momentum. Right now, the median age of the average construction worker is increasingly trending upward. All of these factors are creating a perfect storm of a rapidly growing workforce shortage. The industry needs to get creative.
The USA is on it’s way to being the world’s leading oil and gas producer. Companies are beginning to invest billions in expanding the state’s pipeline – at least three large pipelines are in construction currently. But, as previously mentioned, many export facilities can’t keep up with the demand and are experiencing a limited capacity for growth.
Bottlenecks are developing all over the oil and gas industry. The USA’s existing infrastructure has not been able to cope with rising production. Nationwide needs for energy construction has been increasing so rapidly. Everyone is scrambling. New developments in the shale revolution are a large part of why these new strains on the oil and gas workforce are increasing. An unprecedented amount of oil and gas is being discovered from fracking. Fracking has created an enormous need for energy infrastructure and construction. Moreover, currently, oil and gas producers can’t get their products to customers fast enough.
3. Shortage of Senior-Level Management
In this boom and bust time, it is more important than ever to be efficient, timely, and remain on schedule. A qualified senior-level management professional is extremely valuable in accomplishing just that for an entire company. Having someone competent behind the wheel is crucial to stay competitive.
In an uncertain labor environment, it is difficult to commit to a long-term project or budget and most important delivery. Finding an excellent senior-level candidate with current technical expertise and business acumen is essential to maintain growth and remain competitive in the market. From field labor to management, the lack of expert human capital is being felt all around.
The construction industry has been unable to retain quality professionals that can match the new complexities of the economic environment. The immediate effects have already become visible in problematic projects, conflicted businesses, and rising insurance claims. Eventually, this effect will take place in the upfront cost of schedule and construction.
Executive Search Firms Can Help
You need an executive search company with extensive knowledge of the oil and gas markets. Find an executive search company that has spanned all functions across the market. This breadth of industry expertise can include mid and upstream operators, cross-country infrastructure for midstream oil and gas operators and contractors, oilfield facility construction and maintenance for pipeline contractors, maintenance and repair for utility contractors and operators, and gas pipeline replacement.
Extensive knowledge of the oil and gas markets will allow your executive search firm to tailor their search to your specific needs. The right candidate will be vetted, qualified, job-ready, and already trailblazing within the industry. Executive search firms can find in-market candidates that can help build enterprises to meet all of these new industry demands. Learn more about how BOB Search — a reputable executive search firm — can help develop your enterprise.